Obama's Jobs Council Supports Keystone XL 2.0 -- Obama Rejects It -- Speak Volumes -- Jobs, Obviously Not #1
[Best comment received so far: Candidate Obama talked about energy security. We have the 5th fleet protecting our vulnerable oil supplies from the Persian Gulf while we block pipelines from Canada.]
On CNBC now. Here's the Bloomberg link, time-stamped 11:52 a.m. by Bloomberg. It looks like CNBC was about 30 minutes late with this breaking news.
The rejection will probably come from the State Department which has been charged with reviewing the project and a joint statement will come from some of the larger unions and environmental groups in support of the decision, according to the person who spoke on the condition of anonymity before an announcement.RigZone's take on the rejection.
The administration will let TransCanada submit a new application for an alternate pipeline route (Keystone XL 3.0) said a person familiar with the administration’s plans.
As noted earlier, Keystone XL 1.0 was rejected; replaced by Keystone XL 2.0.
Talking head now says that "this was expected; not at all unexpected."
Talking head says Keystone XL 5.0 will be approved after the election.
(I added the numerical iterations to keep track of the various projects:
- Keystone XL 1.0 was the original; rejected by State Dept in late 2011
- Keystone XL 2.0 was the follow-on to the rejected project; this is the first re-route; it is on Hillary's desk; Congress gave Obama 60 days to decide; it looks like he called their bluff, although he hasn't looked at the plan; Obama rejected 2.0 on January 18, 2012
- Keystone XL 2.1 will be considered, in the news January 19,2012.
- Keystone XL 3.0 will be announced after the election, with "final decision" in 2013
- Keystone XL 3.1 will be the project routing to satisfy Texas' concerns
- Keystone XL 4.0 will be the project that takes Canadian oil sands oil to the west coast/China)
“This was not the end of the line for XL. This was, frankly, politics,” he said. “We’re probably going to see TransCanada and the state Nebraska come together in the next, probably, three weeks.”There is no relationship between $125/bbl oil, $4.50 gasoline, $5.00 diesel, and the Keystone, but if Obama's opponents can't demagogue this issue, they can't demagogue anything.
A final analysis could come in the fall, after which the company would likely reapply for a rerouted pipeline with a final decision in 2013.
"Unions in support of this...." All I can think of is those families whose fathers do not have a job. Sad. Sad. Sad.
Enbridge has been trending higher all day, but is hitting new highs for the day, up over 1 percent now (12:30 p.m. EST).
